REG - Faron Pharma. Oy - Grant of options
RNS Number : 0985XFaron Pharmaceuticals Oy29 April 2021Faron Pharmaceuticals Oy
("Faron" or the "Company")
Grant of options
Company announcement, 29 April 2021 at 14.45 (EEST)
TURKU, FINLAND - Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON), the clinical-stage biopharmaceutical company, announces that the Company's board has confirmed the grant of a total of 728,333 options over ordinary shares in the Company ("Options") under the Company's Share Option Plan 2019. The Options have been allocated under the Share Option Plan 2019 and are exercisable between 24 March 2022 and 24 March 2026 at an exercise price of €3.99 per share (£3.47), vesting 25% per annum over four years. The exercise price is calculated based on the average price per share at which the ordinary shares in the Company have been traded on AIM for 90 days preceding the allocation date of 24 March 2021. The terms of the Share Option Plan 2019 are as attached to the notice of the Company's 2020 annual general meeting, available on the Company's website at https://www.faron.com/investors/general-meetings/2020.
The granted 728,333 Options entitle the option holders to subscribe for a total of 728,333 new ordinary shares in the Company, if exercised in full, and represent 1.4% of the fully diluted ordinary share capital of the Company.
Included in the number of Options granted are the following Options which were issued to directors, other persons discharging managerial responsibilities ("PDMRs"), scientific advisory board ("SAB") members and Company personnel:
Director
Options granted
Armstrong Frank
60,000
Brown Gregory
30,000
Jalkanen Markku
120,000
Manner Matti
30,000
Poulos John
30,000
Whitaker Anne
30,000
Zambeletti Leopoldo
30,000
Total directors
330,000
Other PDMR
Honkasalo Pessi
12,000
Hänninen Toni
43,333
Jalkanen Juho
32,500
Karvonen Matti
32,500
Lahtinen Maria
21,000
Mandelin Jami
21,000
Total other PDMRs
162,333
SAB member
Curiel Tyler
10,000
Jalkanen Sirpa*
10,000
Knowles Jonathan
10,000
Total SAB
30,000
*Jalkanen Sirpa is a person closely associated ("PCA") to Jalkanen Markku
Total Company personnel
206,000
For more information please contact:
Faron Pharmaceuticals Oy
Dr Markku Jalkanen, Chief Executive Officer
Peel Hunt LLP, Broker
Christopher Golden, James Steel
Phone: +44 (0) 20 7418 8900
Cairn Financial Advisers LLP, Nomad
Sandy Jamieson, Jo Turner, Mark Rogers
Phone: +44 (0) 20 7213 0880
Sisu Partners Oy, Certified Adviser on Nasdaq First North
Juha Karttunen
Phone: +358 (0) 40 555 4727
Jukka Järvelä
Phone: +358 (0) 50 553 8990
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Lindsey Neville
Phone: +44 (0) 20 3709 5700
Email: faron@consilium-comms.com
Stern Investor Relations
Julie Seidel, Alexa Comai
Phone: +1 (212) 362-1200
Email: julie.seidel@sternir.com
About Faron Pharmaceuticals OyFaron (AIM: FARN, First North: FARON) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs caused by dysfunction of our immune system. The Company currently has a pipeline based on the receptors involved in regulation of immune response in oncology, organ damage and bone marrow regeneration. Bexmarilimab, a novel anti-Clever-1 humanised antibody, is its investigative precision immunotherapy with the potential to provide permanent immune stimulation for difficult-to-treat cancers through targeting myeloid function. Currently in Phase I/II clinical development as a potential therapy for patients with untreatable solid tumours, bexmarilimab has potential as a single-agent therapy or in combination with other standard treatments including immune checkpoint molecules. Traumakine® is an investigational intravenous (IV) interferon beta-1a therapy for the treatment of acute respiratory distress syndrome (ARDS) and other ischemic or hyperinflammatory conditions. Traumakine® is currently being evaluated in global trials as a potential treatment for hospitalised patients with COVID-19 and with the 59th Medical Wing of the US Air Force and the US Department of Defense for the prevention of multiple organ dysfunction syndrome (MODS) after ischemia-reperfusion injury caused by a major trauma. Faron is based in Turku, Finland. Further information is available at www.faron.com.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1
Details of the person discharging managerial responsibilities/person closely associated
a.
Name
Armstrong Frank
Brown Gregory
Honkasalo Pessi
Hänninen Toni
Jalkanen Juho
Jalkanen Markku
Jalkanen Sirpa
Karvonen Matti
Lahtinen Maria
Mandelin Jami
Manner Matti
Poulos John
Whitaker Anne
Zambeletti Leopoldo2
Reason for notification
a.
Position/Status
Person discharging managerial responsibilities/person closely associated
b.
Initial notification/
Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.
Name
Faron Pharmaceuticals Oy
b.
LEI
7437009H31TO1DC0EB42
4
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a.
Description of the financial instrument, type of instrument
Identification CodeOptions over ordinary shares
ISIN: FI4000153309b.
Nature of the transaction
Grant of options made under the Faron Share Option Plan 2019 exercisable at €3.99 per ordinary share
c.
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
60,000
30,000
12,000
43,333
32,500
120,000
10,000
32,500
21,000
21,000
30,000
30,000
30,000
30,000
d.
Aggregated information
- Aggregated Volume
- Price
502,333
Nil
e.
Date of the transaction
28 April 2021
f.
Place of the transaction
Turku
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